We're a couple in our 50s spending $180k year - is our retirement nest egg big enough to stop working?

Before jumping into early retirement, it's crucial to evaluate your financial situation. One couple, with a net worth of $7.5 million and annual spending of $180,000, is reconsidering their retirement plans. Instead of rushing, they're weighing their options, including limiting withdrawals to a conservative 3% to ensure their savings last for 40 years. This careful planning could allow them to retire comfortably while still enjoying life without the stress of financial cutbacks.

Retiring early is possible, and may be easier than you think. A couple in their mid-50s is assessing their savings and spending before making that decision.

If they retire in their mid-50s, they should probably limit their retirement plan withdrawals to 3% a year to be safe, as opposed to the popular 4% rule.

Read at 24/7 Wall St.